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Can vat be charged on a second hand car?

Business charged Finance hand Kingdom taxes United VAT
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Can vat be charged on a second hand car?

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Only the profit is chargeable to VAT on second hand cars….so the VAT is calculated as proceeds less cost divided by 117.5 multiplied by 17.5.

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VAT can only be charged on a used car if it is a dealer demonstrator – its then classed as VAT qualifying which means you can claim the VAT back if you are VAT Registered

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